Global Near Field Communication Market Industry Outlook, Size, Growth Factors And Forecast 2029
Near Field Communication Market size was valued at US$ 20.55 Bn in 2021 and the total revenue is expected to grow at 14.2 % through 2022 to 2029, reaching nearly US$ 59.46 Bn.

Near Field Communication Market Overview

Maximize Market Research provides a detailed analysis of Near Field Communication Market, as well as the most up-to-date market snapshots and a comprehensive understanding of its characteristics. The Near Field Communication Market report gives a high-level overview of the market, with standard subjects emphasized & data modified as necessary. The analysis in the report determines how to approach the market and comprehend the current state of the sector. The research was used to investigate the global Near Field Communication market, and the results are logically presented in the report. Other elements such as supply and demand chains, imports and exports, distribution networks, consumption, and production capacity help business owners, stakeholders, and field marketers gain a competitive advantage are covered in the Near Field Communication market report.

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Near Field Communication Market Scope

The report on Near Field Communication Market includes the market size and growth rate along with a thorough regional analysis, competitive landscape and segment-wise analysis of the industry. Key insights provided by the report include the major drivers of the Near Field Communication Market, the challenges faced by the market participants and growth prospects in the Near Field Communication industry across the globe. Data for the analysis was collected using primary and secondary research methods for Near Field Communication Market report. Primary research includes surveys, questionnaires and telephonic interviews while secondary research includes journals, white papers, government sites and paid & unpaid databases. Qualitative and quantitative methods of analysis were used in the report to draw inferences from the data collected through primary and secondary research. Tools such as SWOT, PESTLE and Porter’s Five Force analysis were used for analysing the Near Field Communication Market. 

Market Dynamics:

Over the past ten years, the digital industry of mobile commerce has expanded at a dizzying rate. Today, mobile phone users use NFC technology to make payments. Additionally, the portable has now evolved into a crucial tool for information transportation thanks to NFC-enabled PoS systems. A number of financial institutions are collaborating with a range of application programmers to develop apps that let users conduct transactions.

The Near Field Communication (NFC) market share for the entire company must rise soon. A rise in contactless payments, improved customer service, expanding use of near field communication (NFC), and declining near field communication (NFC) market size and semiconductor chip costs are some of the factors propelling the growth of the NFC market.

Segmentation :

The global near field communication market is divided into NFC Controller ICs (Chips), NFC Tags, NFC Readers, and NFC Secure Elements based on the type of product. The market share leader among NFC readers in 2021 is anticipated to hold onto the top spot throughout the forecast period. This is a result of increased demand for NFC readers in new applications such as identity and network access. With features like password protection, payouts, transportation systems, and attendance monitoring, the NFC reader is also portable and adaptable.

The reader/writer mode, card emulation mode, and peer-to-peer mode are the three categories into which the global near field communication market is divided based on the device. Numerous cellphones and business apps have made use of the NFC chip in reader mode. Due to the high demand for payments, NFC-based digital payment systems like Google Pay, Samsung Pay, Apple Pay, and Android Pay are widely used and are anticipated to grow at the fastest rate during the forecast period.

The global near field communication market is divided into the following application categories: mobile/contactless payments, information sharing, user authentication & access control, monitoring healthcare systems, and others, based on the use. One of the key factors driving the near field communication market is the rising demand for cashless transactions in different parts of the world. Consumer electronics companies are implementing NFC technology in their mobile phones and tablets to offer their customers a single solution because multitasking electronics devices are widely adopted worldwide.

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Key Players

• Qualcomm
• Sony
• Texas Instruments
• Impak Health Nedap
• Gentag Inc.
• Omron Healthcare
• Qolpac
• A&D Company
• NXP Semiconductors
• Gemalto
• Broadcom
• Infineon Technologies
• Inside Secure
• MediaTek
• Samsung Electronics Corporation
• Renesas Electronics Corporation
• STMicroelectronics NV.
• Thales Group
• Ams
• Identive
• HID Global
• MagTek
• Avery Dennison

Regional Analysis

Each regional Near Field Communication market is thoroughly studied to determine its current and future growth prospects. This information helps clients to grow their businesses. The Near Field Communication market report covers all five regions and their country-wise distribution. Their Near Field Communication market size and trends are also included in the report.

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Key Questions answered in the Near Field Communication Market Report are:

  • What is Near Field Communication?
  • What was the Near Field Communicationmarket size in 2021?
  • What is the forecast period of the Near Field Communication market?
  • What will be the Near Field Communicationmarket size by 2029?
  • What is the growth rate of the Near Field CommunicationMarket?
  • Which factors are expected to influence the Near Field Communication Market growth?
  • What factors are expected to hamper the Near Field Communication Market growth?
  • Which segment dominated the Near Field Communication Market growth?
  • What is the demand pattern for the Near Field Communication market?
  • Which region held the largest share in the Near Field Communication market?
  • Who are the key players in the Near Field Communicationmarket?

Key offerings:

  • Market Share, Size, and Forecast by Revenue|2022-2029
  • Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
  • Market Segmentation: A detailed analysis by Near Field Communication
  • Landscape- Leading key players and other prominent key players.

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